Comment Text:
i0-001
COMMENT
CL-03319
From:
Sent:
To:
Subject:
Daniel Wambe
Saturday, January 23, 2010 3:10 PM
secretary
about the proposed forex leverage regulation
I truely believe that it is and should be up to every retail trader to decide which leverage level is
appropriate for their tading style or system. Regulatory forex trading bodies seem to be doing what ever
they can to make it difficult to retail forex traders to be successful in their chosen activity in the name of
" Protecting retail traders". So far, I do not see how these regulations protect us. Already, last November
2009, regulation from the NFA made impossible to set stop losses and take profits in advance when
placing an order. How does this protect me as trader? It is rather detrimental because it exposes our
trading accounts to unforseen events that may occur at any moment.
What have happened to the "Land of the freed and Home of the braves?". I personally feel like our
freedom is been taken away with all these red tapes placed around us. If a trader cannot be responsible in
his financial activities, let that be his problem. The leverage level has been cut already, please leave it as
it is.
Thank you for your understanding.
Daniel Wambe.
Forex retail Trader.
